Middle-aged people's income drops by US$ 5,330 after falling into sudden illness: KDI
- 5 years ago
What happens to medical costs and income.... when a middle-aged man or woman suddenly becomes ill?
Our Kim Hyesung explains.
A report shows that when middle-aged people fall sick and are hospitalized for more than three days, their medical expenses go up by an average of 780 U.S. dollars a year while their income drops by around 5-thousand-330 dollars.
Using the Korea Health Panel's data between 2008 and 2015, the Korea Development Institute compared 269 people, aged between 40 and 55, who were suddenly hospitalized... to 871 people from the same age group with no health problems.
The KDI report defined 'suddenly falling ill' as those with no previous experience of hospitalization in the last two years suddenly being hospitalized for more than three days.
Pregnant women and people with chronic diseases were excluded.
The findings show the income of those who suddenly fell sick dropped 24 percent compared to the other control group in the first year, and 42 percent the following year. More than 10 percent lost their full-time jobs the year they fell sick.
Annual medical expenditures went up more than three-fold... but after three years, there was not much difference in medical expenses between those who had been hospitalized and those with no health problems.
The KDI report said this shows the income loss resulting from a sudden illness far outweighs the medical cost burden.
Citing the growing elderly population, the KDI said coming up with a job policy to help the middle-aged to find work again after recovering from illness is important.
Kim Hyesung, Arirang News.
Our Kim Hyesung explains.
A report shows that when middle-aged people fall sick and are hospitalized for more than three days, their medical expenses go up by an average of 780 U.S. dollars a year while their income drops by around 5-thousand-330 dollars.
Using the Korea Health Panel's data between 2008 and 2015, the Korea Development Institute compared 269 people, aged between 40 and 55, who were suddenly hospitalized... to 871 people from the same age group with no health problems.
The KDI report defined 'suddenly falling ill' as those with no previous experience of hospitalization in the last two years suddenly being hospitalized for more than three days.
Pregnant women and people with chronic diseases were excluded.
The findings show the income of those who suddenly fell sick dropped 24 percent compared to the other control group in the first year, and 42 percent the following year. More than 10 percent lost their full-time jobs the year they fell sick.
Annual medical expenditures went up more than three-fold... but after three years, there was not much difference in medical expenses between those who had been hospitalized and those with no health problems.
The KDI report said this shows the income loss resulting from a sudden illness far outweighs the medical cost burden.
Citing the growing elderly population, the KDI said coming up with a job policy to help the middle-aged to find work again after recovering from illness is important.
Kim Hyesung, Arirang News.